Topic: JP morgan on GAME. 'JPM Coin' - page 2. (Read 451 times)

XRP misses the point of crypto to start with, that junk is done. JPM want be the last bank to have its own xrp copy operating.

it is a good news for crypto market for sure. new adaptations to blockchain and cryptocurrencies. more people will hear about crypto currencies. but of course it is not a good thing for ripple project 

It's more than XRP because this so called coin is for their own used only so I wouldn't even compare it to XRP or any other coins in the crypto sphere.

https://cointelegraph.com/news/ripple-ceo-brad-garlinghouse-says-jpmorgan-coin-misses-the-point-of-crypto


I wouldn't put too much weight on this news, no need to hype it as if they change their tune in accepting crypto or something.

I don't know good or bad news, but I see this is good news, because before jp morgan sentiment towards crypto and now they will make their own crypto, and hopefully can raise the price of bitcoin and altcoin a little.

It's a lot of courage to launch this project after criticizing Bitcoin! At least if he had the intention of making these criticisms that he did after he was launching his shitcoin! Who will buy it? It's true that this bank can make a huge volume, but will the SEC allow it? They hunt simple and common users, will the SEC do something? Huh, I don't think so! ETF? It's sad to know that they put all their hopes into it.

If people want true decentralized crypto coins, why will they buy bank issued coins. What will these bank coins be backed by? It is way smarter to buy real asset backed tokens such as the gold backed poken from Populous at a nice discount to market price.

Let’s start with the obvious. Ripple now have another huge contender (as do SWIFT for that matter). One of the major benefits of JPM Coin and - any other bank created crypto which follows the precedent – is the ability to instantly settle payments. Currently, banks rely on legacy systems – such as Swift – to settle payments, something which is often referred to as outdated (hence legacy) and ultimately, slow and costly. Ripple saw this as a gap in the market, swooping in to offer their expertise in blockchain technology and even offer some instant liquidity solutions in the form of XRP and its integration within one of the firm’s remittance solutions, xRapid. However, with the incipient JPM Coin on the way, it seems as if Ripple will have to compete even harder if they’re to win over any further business from major banks. With the introduction of JPM Coin, there are many possible outcomes pertaining to the effect on crypto as payment. Here are just three:

1: JPM Coin becomes the standard for bank payment settlements.

2: JPM sets a precedent for other major banks to create their own cryptocurrencies.   

3: Ripple (and other competitors) undercut JPM and Banks defer to use these.

The third option is perhaps most likely, JPM doesn’t have unilateral control of the free market, albeit their dominance is prevalent, it is still likely that this will just create further competition. Interestingly the second option is also likely, especially in the long term. A recent report from the Bank of International Settlements (the bank of central banks) 70% of the worlds central banks are looking into the creation of central bank digital currencies (CBDC). Well, just my two cents on this. I'll continue now with my online roulette game. Cheers mate!!

JPM token is just the beginning.
Other banks will follow and also corporations Apple, Facebook..... or the Japanese IT giant, https://www.blockchain24.co/stablecoin-in-japan/

Several countries (Russia, Saudia Arabia, Venezuela, UAE...) also said they will create the own mathematical (crypto) currency.

If you only can pay with Amazon tokens at Amazon so be it.

One thing is certain, NO COUNTY OR CORPORATION WILL HAVE A MINEABLE COIN all they will ever have is no-cost coins.

I feel like the majority of other commentators before me fail to grasp that this coin will be ony for internal transfers. It won't promote the usage of cryptocoins, it won't help us in any means. It just uses the blockchain technology, so those big fiat whales could exchange even faster to make even more money. JPMcoin could have a negative effect on XRP, though but we can't know for sure right now.

JPMorgan came in a while ago, mainly in 2017 when they were spreading a lot of FUD about bitcoin whilst buying as much as cheap bitcoins as they could get their hands on. off the market and on the market.

then they didn't stop there either they created their own shitcoin to make even more profit. and this is exactly that.
don't get excited for it, this won't lead to anything specially things like ETF!

This news really stunned me. I cannot expect that our crypto market has such great appeal. When we are joined by large businesses, our capitalization will certainly be greatly strengthened and that is the premise and motivation for other businesses to enter the crypto market.
This is an extremely good news and it makes me extremely excited.

well, our market is in a pretty good stage. Large businesses are taking advantage when the crypto market has little capital to enter the market, this is a very smart strategy from them.
Large businesses will gradually join in like JPMORGAN Chase and our market will soon be rich again.

JPM coins is as pointless as the xrp token.

Other pointless tokens coming. Every large corporation will have own no-cost, non-mineable token.

GMO Internet, a Japanese IT giant, has revealed that it plans to develop its stablecoin based on yen (JPY).
https://www.blockchain24.co/stablecoin-in-japan/ .

And the next no cost project
https://www.vakt.com/

The JPM coin is pointless, it's just an internal token for use on their own network. No idea why they need blockchain for this. It just seems like a bit of a publicity stunt. But if JPM feel that crypto is the next big thing, and they need to show that they're keeping up with trends, then that is a good sign for the future of genuine crypto.

The owner of Nobel economy price said that JPM Coin is a joke  . Finally, he told something cool because he is big hater of cryptocurrencies.

There are more banks backed by fiat money (that are not backed ).
HSBC has its own coin, I have heard also about Deutsche Bank that they have a plan to create something similiar.

Is JPM plays an important role just for the ETF to get an approval? It's been known that Jamie Dimon have been saying bad things about bitcoin, called it a fraud and other negative things that he can throw to it few years ago.

Creating their own cryptocurrency means that they are legit greedy. Understanding on how the crypto market works will change it's CEO's point of view and will start an act like this. Don't also be surprised if in the future JD/JPM will say that "bitcoin is the future".

Yes, previously many times the price of Bitcoin decreased due to the wrong speculation by the JP Morgan but now he is supporting and launching his own coin in the market. This makes us more interesting because soon many companies will join in cryptocurrency club.

Only a year ago, JPM CEO was bashing bitcoin and cryptos as scams. Now they are joining the crypto club!

Same value as the US dollar just another stable coin experimenting on blockchain they once actually criticized I think Crypto is actually stepping up despite all the market hits Good